ADQ monetizes a minority stake in TAQA

ADQ monetizes a minority stake in TAQA

- ADQ remains committed to maintaining a sizeable ownership stake in TAQA

- TAQA is a leading utilities firm in EMEA and a key player in driving the UAE's clean transition

Abu Dhabi, UAE: ADQ, an Abu Dhabi-based investment and holding company, today announced that it has entered into an agreement to monetize a stake of 8.6% in Abu Dhabi National Energy Company PJSC (“TAQA”) to Multiply Group PJSC, Abu Dhabi Pension Fund and other prominent investors.

TAQA is a diversified utilities and energy group headquartered in Abu Dhabi, the capital of the United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX: TAQA). TAQA has significant investments in power and water generation, transmission and distribution assets, as well as upstream and midstream oil and gas operations. The company operates in 11 countries globally and has recently taken a controlling stake in Masdar’s renewable business, along with ADNOC and Mubadala, which aims to become a global leading clean energy company, targeting more than 50GW capacity by 2030.

H.E. Mohamed Hassan Alsuwaidi, Managing Director & CEO of ADQ, commented: “The transaction underlines our efforts to attract long-term institutional partners and leverage monetization opportunities that ensure we generate sustainable capital growth and a balanced